Apparently there's no need to turn back time for either Cher or Demi Moore. Both women were on hand for the AFI Night at the Movies (presented by Target) event at the Arclight Hollywood theater on Wednesday April 24, where several recent classic films (from Steel Magnolias to Moonstruck) were screened and introduced by stars. Cher, 66, and Moore, 51, happily posed for a joint photo together -- and, comparing a similar snapshot of the twosome together from 1996, both women look better than ever.

Back at the October 1996 premiere of HBO film If These Walls Could Talk, Moore sported a shaved head from her role in the infamous army flop G.I. Jane; as smooth-faced then as she is now, "Believe" singer Cher rocked her trademark black hair in sultry waves holding hands with Moore. (At the time, Moore was still married to Bruce Willis; they divorced four years later.)

Cher and Demi Moore attend the "If These Walls Could Talk" HBO Premiere in Los Angeles, California on October 1, 1996.Credit: SGranitz/WireImage.com

Before introducing a screening of her film Ghost, Moore had an intense, 10-minute one-on-one chat with Cher in the VIP Lounge, according to an onlooker. Sipping bottled water, "Demi was transfixed by what Cher was saying and was completely focused on her," the observer tells Us Weekly.

Moore, wearing Sorellina's Victoria Serpente Spiral Earrings, cracked up the audience as she introduced 1990's Ghost, in which she costarred with the late Patrick Swayze. "How many of you have seen the film?" she asked as the crowd applauded in response. "And then how many virgins? I ask because we shot this film in 1989, and for me, I always kind of keep track of the events based on my children, and my oldest daughter turned one during the shooting," she explained in a reference to her daughter Rumer Willis. "She will be 25 this year! And it's pretty shocking to think about that this was made 25 years ago, and being a part of something that has had the beauty of truly standing up against the test of time."